Scottish Government Research Shows Leaving EU Could Cost Economy £11.2 Billiion A Year

George Adam MSP has raised concerns about the economic impact of Brexit to Scotland – after Scottish Government analysis drawing on research from a range of external organisations showed that leaving the EU could cost the Scottish economy as much as £11.2 billion per year by 2030.

The figures, which also showed Scotland’s public finances could fall by as much as £3.7 billion per year, are further evidence that in order to protect jobs and livelihoods across Paisley, Scotland’s position in the EU must be maintained. The analysis points to damage to exports, reductions in investment and reduced economic growth as major concerns

Commenting, George said:

“This analysis by the Scottish Government makes it perfectly clear why it is absolutely imperative that Scotland’s position in the EU is secured. If not, then it is obvious that jobs, investment and growth will be threatened.

“To see that up to £11.2 billion could be lost from Scotland’s economy every year is very worrying indeed – and shows how unbelievably misguided the Tory government’s plans are.

“Paisley benefits massively from Scotland’s membership of the European Union, opening up markets and making it easier for businesses to invest in our skilled workforce. This research has shown that the only way to protect the economy of Renfrewshire is for Scotland to protect our relationship with the EU.

“The Scottish Government is quite rightly exploring all options in order to keep Scotland in the EU and to ensure that we are not dragged out against our will. It would be intolerable for this to happen, and the Scottish Government analysis shows the deeply damaging impact this would have on jobs, investment and prosperity in Paisley and across Scotland.”